PRESS RELEASES

Ninety four years ago, one of the great atrocities of the 20th century began. Each year, we pause to remember the 1.5 million Armenians who were subsequently massacred or marched to their death in the final days of the Ottoman Empire. The Meds Yeghern must live on in our memories, just as it lives on in the hearts of the Armenian people.

Several weeks since Armenia felt the impact of the global financial and economic crisis, the weakness of the Armenian economy has become all too apparent. Starting with a drastic reduction in the amount of money or remittances coming into Armenia from relatives working abroad, mainly in Russia, most Armenian families have already begun to feel the pinch from the larger global crisis.

Armenian villagers, who, starting from March each year, used to go abroad to work, particularly in Russia, are not in hurry to leave their motherland this year. Closed doors and rejections await them because of the economic crisis.

February 17, Business New Europe, Germany
Armenia is close to signing a $500m stabilisation loan agreement with Russia. The government needs to raise more money if it is to carry out its 2009 budget plans, which were based on an optimistic forecast of 9.2% growth.

Armen Kharazian
January 20, 2009
Washington
1. The Obama administration has pledged to conduct a strong, but consultative foreign policy, driven by both principles and pragmatism, and aimed at restoring U.S. leadership, reputation and influence on the world stage.

"The Armenian government intends to confront the expected economic crisis in two major ways: by giving impetus to construction of infrastructures and assisting the enterprises in difficult conditions," the RA Prime Minister Tigran Sargsyan said during a talk with NT correspondent.

The Armenian prime minister believes the set of measures foreseen by the government will help Armenia cope with the negative consequences and minimize the impact of the continuing economic crisis in 2009.